Skyworks Solutions (NASDAQ:SWKS) Price Target Lowered to $72.00 at Citigroup

Skyworks Solutions (NASDAQ:SWKS) had its price target reduced by Citigroup from $83.00 to $72.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the semiconductor manufacturer’s stock. Citigroup’s price objective points to a potential downside of 13.99% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Robert W. Baird increased their price objective on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Craig Hallum reduced their target price on Skyworks Solutions from $140.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Skyworks Solutions from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday. Susquehanna reduced their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Benchmark reiterated a “hold” rating on shares of Skyworks Solutions in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.59.

Skyworks Solutions Stock Performance

Shares of NASDAQ:SWKS traded down $3.33 on Wednesday, reaching $83.71. 2,774,306 shares of the company’s stock were exchanged, compared to its average volume of 2,363,012. Skyworks Solutions has a fifty-two week low of $82.13 and a fifty-two week high of $120.86. The company has a quick ratio of 4.29, a current ratio of 5.75 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average is $96.17 and its two-hundred day moving average is $100.61. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 3.95 and a beta of 1.21.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Tuesday, November 12th. The semiconductor manufacturer reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.03. Skyworks Solutions had a net margin of 14.27% and a return on equity of 13.73%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted $1.95 earnings per share. Skyworks Solutions’s revenue for the quarter was down 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Skyworks Solutions will post 5.39 EPS for the current year.

Insider Activity

In related news, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total transaction of $950,462.37. Following the sale, the senior vice president now owns 37,203 shares of the company’s stock, valued at approximately $3,793,589.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Reza Kasnavi sold 1,843 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $107.47, for a total transaction of $198,067.21. Following the completion of the transaction, the senior vice president now directly owns 17,455 shares of the company’s stock, valued at approximately $1,875,888.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carlos S. Bori sold 9,321 shares of Skyworks Solutions stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $101.97, for a total value of $950,462.37. Following the completion of the sale, the senior vice president now directly owns 37,203 shares in the company, valued at approximately $3,793,589.91. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,162 shares of company stock worth $2,306,291 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Skyworks Solutions

Several large investors have recently modified their holdings of the stock. Forsta AP Fonden grew its stake in shares of Skyworks Solutions by 27.0% during the third quarter. Forsta AP Fonden now owns 37,200 shares of the semiconductor manufacturer’s stock worth $3,674,000 after acquiring an additional 7,900 shares during the last quarter. Advisors Asset Management Inc. raised its position in Skyworks Solutions by 73.3% during the 1st quarter. Advisors Asset Management Inc. now owns 16,067 shares of the semiconductor manufacturer’s stock worth $1,740,000 after buying an additional 6,795 shares during the last quarter. Versor Investments LP raised its position in Skyworks Solutions by 115.3% during the 3rd quarter. Versor Investments LP now owns 19,901 shares of the semiconductor manufacturer’s stock worth $1,966,000 after buying an additional 10,658 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Skyworks Solutions by 25.3% in the 3rd quarter. Van ECK Associates Corp now owns 1,610,645 shares of the semiconductor manufacturer’s stock valued at $152,915,000 after acquiring an additional 325,672 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Skyworks Solutions in the second quarter worth $797,000. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.